Categories
People & Relationships

Successful Entrepreneurs and The Importance Of Building A Team

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I often encounter entrepreneurs who see themselves as soloists, single individuals boldly taking risks to create new and imaginative products or solving problems in unique and unusual ways by themselves. Successful entrepreneurs know that in order to discover untapped markets, to develop new solutions, and bring a product to market requires a team of people who can add their unique talent and skill to the mix.
Many entrepreneurs try to do it all, and this is a recipe for failure. No matter how gifted, skilled, and talented an entrepreneur is there are still things that are required for a successful business that others do better than they do.
I live with the Vega Role Facilities Theory day in and day out and have for over thirty years. You could say that I have become so familiar with the theory and the power of its concepts to transform people’s lives that I wrongly assume that everyone else experiences what I do.
Still, it continues to surprise me when after I have delivered and interpreted inventory results someone says “This is very interesting, so what do I do with this information?” I could go on for pages, but let me focus my comments today on one area – entrepreneurs and team building.
VRFT is a powerful tool to help people see what they are skilled at doing and what things they do best. More importantly for this discussion, VRFT is uniquely positioned to provide the reciprocal information as well. By this I mean those things that a particular individual does not do well. In the case of an entrepreneur, this information may well be the crucial difference between success and failure. So when an entrepreneur says to me, “I already know this about myself. So what?” The answer is “Have you used this knowledge to build your team?”
Let me give you some hypothetical examples: An entrepreneur has the idea for a product but not the skills to manufacture it. Without someone with production skills, employee or contractor, the idea is only that – an idea. An entrepreneur has a network of influential people, contacts, and marketing but not the organizational or operational skills to manage the day-to-day operations of a business. Without the right person to organize and manage the business plan, entrepreneur’s schedule, and finances the end results is likely to be chaos. Or maybe an entrepreneur has a fantastic new idea but no strategy or plans to bring it to fruition. They need someone whose skill is providing advice, long-term strategy, and short-term tactics.
Without someone to fill these critical roles an entrepreneur’s business may stumble along, but it will not take off the way the entrepreneur envisions. VRFT not only provides the information the entrepreneur needs to understand their own skills and talents, but also the information necessary to know what skills and talents are needed to compliment the entrepreneur, how to position current team members’ talent to fill the gaps they are best suited for, and how to evaluate prospective team members to determine if the talent they bring fills the needs the team has. All this from a simple but powerful assessment.
About the Author:
Gary Jordan, Ph.D., has over 27 years of experience in clinical psychology, behavioral assessment, individual development, and coaching. He earned his doctorate in Clinical Psychology from the California School of Professional Psychology – Berkeley. He’s the co-founder of Vega Behavioral Consulting, Ltd., a consulting firm that specializes in helping people discover their true skills and talents. www.vrft.com.

Categories
Success Attitude

Best of the Janes: Marketing Methods for Success

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Some business owners love to spend time strategizing and marketing, leaving the details to employees. Others simply don’t have the time to strategize, and therefore, they must implement marketing systems with maximum efficiency. Whatever they choose, business owners should be aware of the resources each type of system requires, and the results each type of system yields.
A recent study from Jane Out of the Box, an authority on female entrepreneurs, reveals there are five distinct types of women in business. Based on professional market research of more than 2,500 women in business, this study shows that each type of business owner has a unique approach to running a business and therefore each one has a unique combination of needs. This article outlines several considerations business owners should make, regardless of which type of business owner they are.
* Develop systematic, measurable marketing methods. Since every type of marketing requires a certain investment, a business owner will need to track any marketing she employs to know whether it’s worth the investment. For example, if she’s using Google “pay per click” to drive people to her web site, she should pay careful attention to how many people click on the ad that comes up with a certain combination of keywords. Is it producing at least the number of web site visits she desired? If an entrepreneur is using Twitter or Facebook to drive people to her site, she can keep track of how many of her followers or friends go directly from her tweets or her status updates to her site. These numbers indicate whether her efforts (financially and time-wise) are paying off.
* Determine exactly who the marketing will target, and which benefits this population seeks. In doing so, a business owner’s marketing will be as efficient as possible – so whatever resources she invests will produce a greater return. To easily and quickly determine her target market, a business owner can survey existing customers to find out why they chose the business and what they enjoy about working with the company. Meanwhile, business owners can gather testimonials from customers – this is a great tool for word of mouth marketing, and doesn’t require large investments of either time or money.
* Get clear on the business concept and business model. Boil it down. Being able to release a concise, powerful statement about the business concept defines exactly what the company offers and how it benefits clients. For example, an executive coach may say, “I coach professionals to help them earn a better profit and find a satisfactory work-life balance,” even if what she does is actually much more complicated or is completed in many more steps. Also, examine the business model to make sure it’s realistic to expect the business to make money.
* Get clear on the marketing message. If a business owner is feeling overwhelmed by the sheer volume of projects or clients, she should become very selective about to whom she is marketing her products or services so that she attracts a limited number of clients with whom she really wants to work – and therefore a limited number of very pleasant work hours. This will lead to a manageable workload of more enjoyable projects.
* Pair up with other entrepreneurs who offer similar or complementary services. Networking and affiliate marketing are inexpensive in terms of time and money, and provide opportunities for gaining new clients without much effort. By leveraging relationships with entrepreneurs who offer similar or complementary services, a business owner can successfully gain new clients. Similarly, by attending networking events with likeminded business owners, a business owner can get the word out about her own products and services, and can get advice from others in similar situations.
Marketing is one sure-fire way to grow a business. Depending on whether an entrepreneur wants fast growth, slow growth or maintenance, various marketing methods exist to meet various needs and desires.
About the Author:
Michele DeKinder-Smith is the founder of Jane out of the Box, an online resource dedicated to the women entrepreneur community. Discover more incredibly useful information for running a small business by taking the FREE Jane Types Assessment at Jane out of the Box. Offering networking and marketing opportunities, key resources and mentorship from successful women in business, Jane Out of the Box is online at www.janeoutofthebox.com

Categories
Sales & Marketing

Money and Marketing: How To Get Your Next 3 Clients

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Whether you’re a burgeoning empire builder or simply want to have a successful home-based business, having a steady stream of ideal clients flowing in is essential to your success.
Problem is, many entrepreneurs make the process of getting new clients into a bigger deal than it needs to be. It’s actually really simple, once you know which basics to put into place.
Thing to keep in mind is this: people are happy to invest in you and your services if you are clear and confident about how you can help them. That means getting focused on your niche, making sure you can clearly talk about the results you deliver and making certain you have a step-by-step program you take clients through.
These are the same business essentials you must do over and over. Like shampoo, you know? “Rinse and repeat.” It doesn’t matter whether you’re brand new, have been in business for a year or are preparing to launch the next income stream of your growing empire; these essentials never change.
To help you get your next three clients, fast, here are three simple tips taken from the same system I used to leap from frustrating 5-figures to what is now a multi-million dollar coaching business in just a few short years. Truth is, I still use this same system, so you know it works!
Tip #1 How Clear Is Your Niche?
Undoubtedly, this is the single biggest reason most entrepreneurs stay stuck in low 5-fgures. Ladies, let’s get clear about something right here and now: your niche is not “women who want more clarity” or “everyone who wants to live their authentic truth.”
Think of your niche this way: It’s the intersection of:
* What you love to do, with…
* What people are having a problem solving or accomplishing, with…
* What people are willing to invest in to fix or improve
Your niche must clearly name who you work with, what the problem is that they’re experiencing and what solution it is that they’re seeking. Chunk down until you get to a very practical description of their situation. Remember, your description of your niche needs to be so crystal clear that when anyone hears it, they’ll know exactly who to refer to you.
Tip #2 Are The Results You Deliver Tangible, Specific And Measurable?
This may be a new way of thinking about your service, but the more you focus on the practical, tangible results clients get from working with you, the more clients you’ll have to work with.
Even if you offer a “softer” service such as energy healing or intuitive counseling you can still focus on the tangible results that show up for your clients. All it takes is a commitment on your part to look at the impact your service has on every aspect of your clients’ lives. One of the exercises I take my coaching clients through is discovering how their service impacts their clients’ finances, health and well being, relationships and their future opportunities. I love seeing the look of confidence on my clients’ faces when they realize just how far reaching their work truly is.
Tip #3 What Is Your Signature System?
People love to invest in step-by-step systems, which is why I innovated a process that helps you quickly uncover your Signature System, often in just a few minutes.
Keep in mind that with chaos, disorder and overwhelm rampant in our culture, people crave and are attracted to systems that make it easy for them to get their needs met and their problems solved. I recommend taking a good look at how you work with clients and transform what you do into a compelling, simple system. You’ll be surprised at how easily this helps your potential clients understand how you can help them.
Here’s How To Put It All Together…
You’re only three or four conversations away from your next three clients. All you need to do is put together your clear, specific niche description with a few of the results you help clients achieve and finish up by saying how you have a simple x-step system that helps your clients achieve those results.
So, what are you waiting for? Give this simple system a try and send me an email letting me know how well it worked for you. You have nothing to lose and new clients to gain!
About the Author:
Kendall SummerHawk, the Million Dollar Marketing Coach, is an expert at helping women entrepreneurs at all levels design a business they love and charge what they’re worth and get it. Kendall delivers simple ways entrepreneurs can design and price their services to quickly move away from ‘dollars-for-hours work’ and create more money, time, and freedom in their business. For free articles, free resources and to sign up for a free subscription to Kendall’s Money, Marketing and Soul weekly articles visit www.kendallsummerhawk.com.

Categories
Success Attitude

Who Really Achieves Success in Sales?

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Success in sales does not go to the one who has the lowest price.
Nor does success in sales go to the one who has the best customers.
And, success in sales does not go the one who has the most intelligence.
Who really achieves success in sales? The people who practice integrity with every person with whom they come in contact. There is no substitute – no alternative – to consistent integrity.
Eleven years ago, I left my corporate career working in sales management for a Fortune 100 company. I began traveling the globe, working with salespeople across more industries than I can even begin to count. Over the years, I’ve personally met with thousands of salespeople, each with their own level of success and failures. I also have met with hundreds of sales managers, VPs of Sales, CEOs and others from the “C-Suite.” All those interactions and opportunities to learn about so many industries has revealed to me more than ever what it takes to remain at the top.
People who are at the top year in and year out are those who walk and breathe integrity in everything they do. This is true in good economic periods and bad economic periods, through global upheavals and company chaos. The consistent factor to success is not an external circumstance, but rather an internal commitment to a high level of integrity. These are the people who do not necessarily close every deal or land every new big hot account that comes along. However, in their actions and attitude, 365 days a year, they walk with integrity.
How would you define integrity? I would define it as adhering to strong moral and ethical standards, regardless of the situation or result of such commitment. In other words, integrity is not a commodity you can casually use when it benefits you, and carelessly throw aside when it doesn’t. Consistency is one of the hallmark signs of true integrity.
As a consultant for more than a decade, I have had the opportunity to watch several people over the course of not just weeks or months, but years. If you have been in sales a long time, you too have had the unique perspective of spotting the people others trust and want to follow. Sometimes this person holds official capacity as a leader, but often the “leader” is not high up in an organization. Regardless of a leader’s “official” position, they likely wield much influence because of their integrity.
Integrity starts with allowing yourself to be personally and publically accountable for everything you do and everything you think. In fact, integrity is more about holding yourself personally to a higher degree of accountability, because the real onus of integrity is how it guides you each day in your actions and activities. Accept 100% responsibility for how you carry yourself and do so with a high standard.
When it comes to strengthening integrity, here are some points to consider:
* No one can be forced to operate with integrity. It’s completely an internal choice that is reflected in external actions.
* It’s never too late to start. If you have struggled with integrity in the past, begin today to set a new course. In small ways and big ways, begin to line up your actions and attitudes with a strong moral and ethical standard.
* Accept the fact that you may not close every deal, because you are not willing to compromise your standards.
* The real measurement of integrity is what you do when nobody is looking and when nobody will ever find out what you have or have not done.
* Learn from those around you who live and breathe integrity. Become a student of their approaches and reactions – not just when the circumstances are good, but particularly when the circumstances are hard. As much as you can, surround yourself with these people. More than likely, they will not only have the highest degree of integrity, they will also be the most optimistic.
Whether you have been in sales a short time or for years, you owe it to yourself to achieve a level of success that is rooted in integrity. That kind of success cannot be matched. You will find yourself experiencing long-term success, and best of all, it will come in ways you least expect it.
About the Author:
Mark Hunter, “The Sales Hunter,” is a sales expert who speaks to thousands each year on how to increase their sales profitability. For more information, to receive a free weekly email sales tip, or to read his Sales Motivation Blog, visit www.TheSalesHunter.com. You can also follow him on www.Twitter.com (TheSalesHunter), on www.LinkedIn.com (Mark Hunter), and on his Facebook Fan Page, www.facebook.com (The Sales Hunter).

Categories
Sales & Marketing

Selling to Purchasing Departments

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One of the most difficult parts of a salesperson’s job is dealing with purchasing departments. Whether you are a new salesperson or a seasoned veteran, you likely will agree that dealing with a purchasing department can create a tremendous amount of stress for a salesperson. Unless you are truly unprepared, there’s no reason for anyone to fear dealing with a purchasing department.
A purchasing department is nothing more than a group of individuals assembled for the sole purpose of trying to save money for their company. The key for you as the salesperson to remember is that even though the purchasing department’s number one objective is to save money, this doesn’t mean they are out to attack you on price.
Purchasing departments view their role as the supply-chain managers. It is their job to ensure the company does what it is supposed to do in an efficient manner that requires as little capital as possible. What this means is very simple: The purchasing department’s job is much more than beating up salespeople. Granted, many purchasing agents do enjoy the thrill of securing a lower price, but that’s no different than you. As a salesperson, you enjoy the thrill of securing a new sale. Accept the fact that the purchasing agent is doing nothing more than what they are supposed to do.
A few vital points to keep in mind when dealing with a purchasing department
* Low price may appear to be what they are after, but if they buy something that’s cheap but doesn’t work, then it’s suddenly anything but a “cheap” item. If it doesn’t work, they now have to replace it. In doing so, they are stuck with a double-cost. Low price is really secondary to the performance of the item they are buying.
* Rarely does the purchasing department have huge amounts of power in a company. This means they’re not at the top of the food-chain. As a result, they can’t afford to upset those above them. Although they may harass you to lower your price, the last thing they want to do is be harassed by others in the company for not buying what those people wanted them to buy in the first place. In other words, purchasing agents will put up a good fight on the surface, but in the end, they can’t afford to upset anyone in the company – regardless of how much money they think they can save.
* Purchasing agents may say they must have a lower price, but in reality their goal is really to save “x” amount of money – and it doesn’t necessarily have to come from you. Purchasing agents will always pick on the salespeople who appear to be the weakest and most vulnerable. This only makes sense, as they are simply trying to manage their time. Therefore, they will secure the savings they need from whomever they believe will give it to them with the least amount of hassle.
Don’t hesitate to call a purchasing agent’s bluff. Purchasing agents love to posture themselves with salespeople as if they control the salesperson’s career. All they are really doing is seeing how far they can push you. Until you stand up to them and push back, they’ll keep pushing you to get additional benefits and lower prices. When a purchasing agent demands a lower price, the only thing they’re doing is going with the demand they know works the best since they know there is almost always flexibility in pricing. It’s the strength and confidence of you the salesperson that is going to be the best indicator as to whether or not they’ll be successful in pushing you to lower your price.
Purchasing agents love to bluff people by saying they will buy from one of your competitors if you don’t lower your price. This actually happens far less than salespeople realize. Upon hearing the threat of going to another supplier, most salespeople will cower and give the purchasing agent what they are after. Too bad the only thing the salesperson has done is give up profit. It’s this type of a response that gives salespeople a bad reputation. The entire time the purchasing manager is demanding you lower the price or they will switch, they know full well how expensive switching to a new supplier can be.
About the Author:
Mark Hunter, “The Sales Hunter,” is a sales expert who speaks to thousands each year on how to increase their sales profitability. For more information, to receive a free weekly email sales tip, or to read his Sales Motivation Blog, visit www.TheSalesHunter.com. You can also follow him on www.Twitter.com (TheSalesHunter), on www.LinkedIn.com (Mark Hunter), and on his Facebook Fan Page, www.facebook.com (The Sales Hunter).